Pfizer Tax Practices Targeted by Congress in Wider Pharma Probe

Senate Finance Chair Ron Wyden (D-Ore.) demanded information into the tax practices of Pfizer Inc., expanding his panel’s probe into the profit-shifting practices of US pharmaceutical companies.

The lawmaker has long probed the sector to understand how it has benefited from the 2017 GOP-led tax law. In a Monday letter to Pfizer’s CEO, Wyden questioned how Pfizer booked much of its profits offshore despite having the US market account for a larger share of its global revenue.

“The American public deserves to understand how Pfizer, a multinational pharmaceutical corporation based in the U.S. with annual sales of at least ...